Act now to slash costs – Thanks to Martin Lewis
Jenny Keefe | Edited by Steve Nowottny
It´s not long now until Christmas, so in order to avoid spending a fortune over the festive period you need to start planning now. This isn’t about early celebration, it’s about preparation. There are sackfuls of things you can do now to reduce the financial stress and avoid being skint in January.
This guide covers everything from budgeting for the big day to how to get cheap fancy perfume and when to book train tickets in advance. And for those who celebrate Eid, Chanukah or owt else, for the most part the same tips apply.
- Don’t plan the perfect Christmas – first work out what you can affordBefore you start planning, consider this: many list every lusted-for item, gifts for all, and a corking meal, then only afterwards consider: “How will I pay for it?” That’s a recipe for ending up broke.Instead, calculate your budget (see our free Budget Planner), and ask: “What can I afford to spend?” Christmas is one day – don’t ruin the whole of the next year for it.
- Time to ban unnecessary presents – watch Martin’s call to armsConsider not giving this Christmas. We’re not talking about gifts from parents or grandparents, but the ever-widening glut of friends, extended family and colleagues.Christmas isn’t a retail festival – we need to end obliged giving and think about what we’re giving, to whom and why.If you’re yelling over your wrapping paper “what about the joy of giving?”, remember gift-giving creates an obligation on recipients to give back, whether they can afford it or not. For some, the gift of “not obliging you to buy for me” is actually better.
Watch Martin’s three-minute video on why. It went viral with 17,000 Facebook comments. Also read his original Ban unnecessary Christmas gifts blog that started it all.You could always make a No Unnecessary Present Pact (NUPP) with friends, or at least agree to a Secret Santa or £5 to £10 cap on gifts. - Check out charity gift catalogues – from goats to jabsWant to give, but don’t want to waste cash on tat? Yule love our rundown of wonderful and weird Charity Gifts (soon to be updated for 2023), which includes how much goes to good causes.
Be it a goat to help a family, lifesaving jabs for children or a water pump for a village, the guide’s packed with ideas, and gifts start from just a few pounds. - POUNCE on discounts when you see themMake a list of who you need to buy for and whenever you see goods at decent prices, grab, wrap, and stuff ’em in a Christmas cupboard.
Keep your eyes peeled for discounts and deals on our Vouchers, Hot Bargains and Sales pages. We’ll also let you know the best via the weekly email.For cheap yet thoughtful gifts, the Free Photo Prints deals page lists the top photo book, canvas, card and calendar discount codes. - 20 free (or very cheap) ways to sprinkle Christmas magic for kidsChances are your best childhood Christmas memories aren’t about beautifully co-ordinated baubles, finest-range turkeys or even getting that year’s must-have toy. For many, it’s the build-up that’s the most fun – experiences that involve spending more time with parents or carers.So we’ve 20 free (or very cheap) traditions to create memories, from driving round after dark to admire twinkly streets to leaving something heavy on the sofa to make a dent “where Santa plonked his big bottom”. See MSE Jenny’s Free Christmas Magic blog.
- Buy a cheap turkey or turkey alternative – and don’t forget to downshiftWith an “It’s Christmas! We need the best!” battle cry, everyone raids the supermarket shelves. Yet don’t assume you’ll prefer higher-brand goods.To test this, on Martin’s TV show he held a blind taste-test soiree for nurses at a hospital with champers, turkeys and more. They preferred the lower-brand goods (or couldn’t tell the difference) 62% of the time.So, don’t be a retail snob. Taste with your tongue, not by looking at the packaging. And buy what’s right for you, not the shop. Our Downshift Challenge guide will help you to see if you can cut everyday costs by £1,000s.
- Festive Fivers… sub-£5 gift ideasBack in 2012, our Festive Fivers contest challenged Forumites to come up with the best ‘make or buy’ sub-£5 presents. And while it was a few years ago now, many of the ideas still work just as well today.See 50 Festive Fivers for the full list (though we’ve archived the guide, so a few points may not be fully up to date). Here are some of our top picks which definitely still work today:
- The 12 Dates of Christmas. Make a date night package which plans a date for each month of the new year, such as a picnic in the park or a candlelit bubble bath. Once you’ve planned the dates, write them on cards and decorate. See 12 Dates of Christmas.
- Santa’s Sleigh Bell (for kids – SPOILER ALERT). Plant a fallen bell in the garden on Christmas morning, saying it’s a fallen bell from “Santa’s sleigh”. Kids’ll love it.
- Balloon box. Fill up a box with loads of blown-up balloons and wrap it – it’s sure to provide hours of fun and shouldn’t cost more than a fiver. Please supervise very young children, as balloons can choke them.
- Elegant chocolate slabs. You pay £7+ in fancy shops, but homemade chocolate slabs are easy and cheap to make.
Thanks to Martin Lewis, Money Saving Expert for allowing us to reproduce this article